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SANTO DOMINGO.- The nonfinancial public sector’s (NFPS) total public debt received by the new administration totals US$17.6 billion as of July 31, accounting for 30.8% of gross domestic product (GDP) nominal estimate for this year by the Finance Ministry’s Fiscal Policy Unit, of RD$22.0 billion (US$57.3 billion).
A report by the Finance Ministry’s Public Credit Directorate cited by diariolibre.com says the NFPS debt balance consists of 71.4% in foreign debt, or an outstanding balance (part of the debt that has not been covered) of $US12.6 billion.
While the remaining 28.6% corresponds to domestic debt, which totaled RD$197.1 billion (US$50.4 billion) at the exchange rate of RD$39.09/ US$1.0. These figures represent 22.0% of external debt and 8.8% of estimated GDP domestic debt respectively.
Of the total domestic debt around US$2.2 billion (3.8% of GDP) is intra-government debt (owed by one government agency to another), such as bonds issued by the Executive Branch to capitalize and recapitalize the Central Bank.
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All these numbers need to be compared to bench marks. Unless we have some comparative basis the numbers mean little. Are these numbers average, low or high for a nation-state like DR? How do these numbers compare to similar nation-states?
Does that include Sunland?
Written by: Atabey, 22 Aug 2012 8:39 AM
From: United States, NYC
All these numbers need to be compared to bench marks. Unless we have some comparative basis the numbers mean little. Are these numbers average, low or high for a nation-state like DR? How do these numbers compare to similar nation-states?
RUBBISH!!!
the only thing that matters is the ability of the economy to generate enough revenue for debt repayment. there is no such thing as comparing the numbers. different countries have different economies, which are affected by different determinants. the composition and diversification of the economy is critical. a monoculture economy, such as some of the smaller caribbean states, might have very insignificant debt obligations, but that does not mean they are in good shape. demand factors, externally generated, could cripple revenues, and they would be worse off than a country with large debt challenges.